Bo Hines, beforehand a crypto adviser to US President Donald Trump who later joined stablecoin issuer Tether, reportedly stored a stake in an organization that profited from the passage of a stablecoin invoice when he was nonetheless on the White Home.
In line with a Wednesday report from The Wall Avenue Journal, Hines had a one-third stake within the funding firm he co-founded, Nxum, whereas pushing US lawmakers to move the Guiding and Establishing Nationwide Innovation for US Stablecoins, or GENIUS, Act. The laws reportedly got here amid Nxum receiving $6.3 million as a part of a take care of stablecoin issuer Tether, behind the USDt (USDT) token, with the primary fee going by whereas Hines was nonetheless serving in authorities.
The Wall Avenue Journal reported that Hines stored in touch together with his companions at Nxum, updating them on progress with the GENIUS Act by the Sign app whereas serving as Trump’s crypto adviser.
He additionally reportedly pressed the Nxum companions to label any Republican lawmakers opposing the stablecoin invoice as “undermining the president” and “purchased and paid for by democratic shills like Coinbase and a16z.” Hines joined Tether as a “strategic adviser” in August 2025, turning into CEO of its US arm the next month.
The reported deal between a former White Home official and a crypto firm continues to shine a highlight on accusations that Trump and his household and employees are personally benefitting from legal guidelines they assist to draft and move. The president disclosed incomes $1.4 billion from investments tied to digital belongings in 2025, which included thousands and thousands of {dollars} from his household’s crypto firm World Liberty Monetary, behind the issuance of the USD1 stablecoin.
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The GENIUS Act handed Congress and was signed into regulation in July 2025 in a ceremony attended by many cryptocurrency executives, together with these behind stablecoins like Tether and Circle. Hines was in attendance and personally acknowledged by Trump on the occasion.
Although it was signed into regulation in 2025, the GENIUS stablecoin invoice requires guidelines from authorities businesses overseeing the tokens, together with the Workplace of the Comptroller of the Forex, Federal Deposit Insurance coverage Company, Federal Reserve Board and Treasury Division. The regulation is scheduled to enter impact in January 2027.
Cointelegraph reached out to Tether for touch upon the accusations within the report however didn’t obtain an instantaneous response.
‘Revolving door’ of US policymakers to crypto corporations continues
A number of figures beforehand in authorities have left to turn into executives or advisers to digital asset corporations. Along with Hines becoming a member of Tether, Summer time Mersinger, a former commissioner with the US Commodity Futures Buying and selling Fee (CFTC), resigned her place three years earlier than her time period was scheduled to finish for a place as CEO of the crypto advocacy group Blockchain Affiliation.
On Wednesday, Solidus Labs introduced that Kevin Webb, a former CFTC senior counsel and adviser to former Commissioner Brian Quintenz, would be a part of the fintech firm as its vice chairman of coverage. Webb isn’t the primary former commissioner on the firm, because the CFTC’s Daybreak Stump left the company in 2022 to hitch Solidus as a “strategic adviser.”
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